In a week were we woke up and heard the Nigerian economy was now the largest in Africa, the Nigerian Stock Exchange has announced that the a total of N225.95billion in foreign transaction was recorded for the year to February 2014. Total domestic transaction was N154.72billion bringing the total to N380billion.
However, there was a sharp rise in foreign portfolio outflow for the month of February as the market saw an outflow of N103.5billion compared to the N35.6billion outflow in February 2013. In total a sum of N153.6billion has been taken out of the country compared to N72.2billion in inflow. Could this be connected to the suspension of Lamido Sansui Lamido?
Methodology – The FPI outflow includes sales transactions or liquidation of portfolio investments through the stock market, whilst the FPI inflow includes purchase transactions on the Nigerian Stock Exchange (Equities only).
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